Society

Demolition and Despair: Mr. Dula’s Final Stand for His Community

By- Andualem Buketo On Friday, families and their children, who make a living by growing vegetables in the Peacock Park area, came to my office. “It is said that the settlement is about to be developed. We have been in this area for 73 years, since the time of our parents,” they told me. I

November 26, 2024 • By Addis Insight

Business

In Memory of Captain Mohamed Ahmed: The Leader Who Took Ethiopian Airlines to New Heights

The Ethiopian aviation industry has lost one of its most iconic pioneers with the passing of Captain Mohamed Ahmed (1932–2024). As a former CEO of Ethiopian Airlines, Captain Mohamed dedicated over a decade of his career to steering the airline through some of the most challenging and transformative periods in its history. His contributions not

November 26, 2024 • By Addis Insight

Business

House of People’s Representatives Approves 582 Billion Birr as Additional Federal Government Budget

The House of People’s Representatives of the Federal Democratic Republic of Ethiopia has approved an additional 582 billion birr federal government budget for the 2017 fiscal year. This decision was made during the House’s 6th regular session in its 4th year of office. The additional budget is earmarked for several critical purposes, including the repayment

November 26, 2024 • By Addis Insight

News

Meskerem Aberra Sentenced to One Year and Four Months in Prison for “Computer Crime”

Meskerem Aberra, the founder and owner of the social media platform Ethio Nqat, was sentenced to one year and four months in prison for a computer crime she was found guilty of three weeks ago. The Federal High Court’s First Special Crimes Division delivered the verdict. Meskerem Aberra’s lawyer, Ato Henok Aklilu, told the BBC

November 25, 2024 • By Addis Insight

Business

Commercial Bank of Ethiopia to Adjust Loan Interest Rates and Service Fees

Addis Ababa, Ethiopia – The Commercial Bank of Ethiopia (CBE) has announced its intention to implement adjustments to loan interest rates and service fees. The changes will apply to various services, including loan products, branch and digital banking, and international banking services. The bank has stated that the adjustments are aimed at aligning with current

November 24, 2024 • By Addis Insight

Business

Awash Bank Announces Pre-Tax Profit of Nearly 11 Billion Birr

Awash Bank, Ethiopia’s first private bank, held its 29th Annual General Meeting (AGM) today and announced plans to celebrate its 30th anniversary in January. Presenting the 2023/24 fiscal year report at the meeting, the bank’s board chairman, Ato Gure Kumsa, told Bisrat Radio and Television that the bank’s total income for the fiscal year reached

November 24, 2024 • By Addis Insight

Africa News

Ethiopia’s Government Bans Two Prominent Human Rights Organizations

The Civil Society Organizations Authority (ACSO) confirmed on Wednesday that it has banned two organizations known for their human rights work, the Center for the Advancement of Rights and Democracy (CARD) and the Association for Human Rights in Ethiopia (AHRE). This action has sparked significant concern among legal experts, civil society, and the broader international

November 22, 2024 • By Addis Insight

Business

ADvTECH Expands into Ethiopia with $7.5 Million Acquisition of Flipper International School

In a significant move to expand its presence across Africa, JSE-listed private education provider ADvTECH Group has announced the acquisition of Flipper International School, a well-established Ethiopian school group based in Addis Ababa. The $7.5 million deal brings five campuses and approximately 3,000 students into ADvTECH’s growing portfolio of private education institutions. ADvTECH CEO Geoff

November 22, 2024 • By Addis Insight

Business

Commercial Bank of Ethiopia Moves to Establish an Investment Bank

The Commercial Bank of Ethiopia (CBE) is in the process of establishing an investment bank, a move aligned with recent regulatory changes aimed at fostering growth in Ethiopia’s financial sector. This initiative is being coordinated with the involvement of Mr. Zemedeneh Ngatu, an experienced investment consultant and managing director of Fairfax Africa Fund. Regulatory Changes

November 21, 2024 • By Addis Insight

Business

Ethiopia Set to Begin Electricity Exports to Tanzania via Kenya

Ethiopia is preparing to commence electricity exports to Tanzania through Kenya, marking a significant step in cross-border energy trade within East Africa. According to Bloomberg, Ethiopia plans to supply 100 megawatts of electricity to Tanzania once all agreements between the countries are finalized. Key Developments in the Agreement Strategic Importance of the Deal This arrangement

November 21, 2024 • By Addis Insight